Hyderabad-based Fintech player, Zaggle planning to go global
K.V. Lakshmana, INN/New Delhi, @kvlakshman
can be contacted on [email protected]
In midst of news of economic gloom and doom and job losses across sector, this here Hyderabad-based tech company has paid Covid bonus to employees, and more important ‘expanding’ talent pool from good resources let go by other companies.
Yes, Zaggle, one of India’s leading B2B FinTech company, has not done any downsizing of its employee strength and rather is recruiting. “There is a vast pool of rich talent that has been let go by some firms and we intent to make full use of the opportunity,” said Avinash Godkhindi, CEO, Zaggle in an exclusive interview with Infodea.
“We are hoping to go global in a big way and have plans to target the Western world, the Gulf and the Pacific belt,” Godkhindi said adding “soon we will start our office in London.”
For a company with a staff strength of two persons in 2011 when started as a tech star up by Founder and Chairman Raj N, today boasts of over 250 employees in 10 cities in India and, hold your breath, a turnover of Rs 1800 crore last year and is targeting a turnover of Rs 3500 crore in financial year 2019-20.
Zaggle uses Deep Tech and Artificial Intelligence to provide Expense Management and Employee Reimbursement solutions to Corporates and SME’s. It is amongst the EBIDTA Profitable B2B FinTech companies in India.
What does the company do to be reverse swinging, earning profits when many are posting losses?
It provides innovative and disruptive FinTech solutions to over 3500+ Corporates Clients and has Merchant Partner Relationship with over 8500 + merchants and has 3.5 million users. A list of few clients reads like the who’s who of the corporate world –Microsoft, Vodafone, Samsung, Zydus, Star Health Insurance, Hiranandani and many others.
Did the company know it was onto a growth trajectory like this when it started off a Corporate gifting company?
“Yes, we were confident of success, but frankly were groping around. At least 35 percent of our ideas bombed, but we were quick to analyse, see where we went wrong and course corrected,” said the CEO recalling the days when handful of persons were brainstorming. From a gifting company to a serious Fintech player is a journey that was well worth it.
“And the best is yet to come,” he said launching into an excited account of the company future plans. “There is a tremendous demand for our product – that helps lots of SMEs keep track of their accounts – from across the globe.
We are looking at the US and Canada markets and even have plans to have a go at the Middle East and Far East, said Avinash Godkhindi said.
